Chairman

Mr. Lau Fai Lawrence
Independence Non-Executive Director

Members

Mr. Ng Man Kung
Independence Non-Executive Director

Mr. Mak Kwok Kei
Independence Non-Executive Director

Audit Committee

The Audit Committee discharges its responsibilities as follows and in accordance with its existing terms of reference being adopted by the Board:

  1. reviewing and monitoring the integrity of the interim and annual results and financial statements of the Company and of the Group and reviewing significant financial reporting judgements;
  2. reviewing and monitoring the reporting, accounting and financial policies and practices of the Group;
  3. reviewing and primarily responsible for making recommendation to the Board on the appointment, re-appointment, retirement, resignation or removal of the Company’s external auditor and reviewing their remuneration and terms of engagement, discussing their audit plan and scope of audit, and monitoring the external auditor’s independence, objectivity and effectiveness of the audit process up to applicable standard, and also reporting the issues raised by the external auditor, including but not limited to those stated in their management letter addressed to the Board, implementing policy on engaging external auditor to supply non-audit services;
  4. acting as the key representative body for overseeing the Company’s relations with the external auditor;
  5. reviewing the fairness and reasonableness of connected transaction(s) or continuing connected transaction(s) of the Company, if any;
  6. ensuring full access by the respective responsible teams of the Group under corporate governance function of any concerns that may have arisen during the course of their corporate governance works;
  7. conducting annual review of the effectiveness of the Group’s internal control and risk management systems as delegated by the Board and considering any findings of major investigation of its internal control and risk management matters; and ensuring the Group’s management has discharged its duty to have an effective internal control and risk management system including the adequacy of resources, qualifications and experience of staff from the Group; and
  8. reviewing arrangements which can be used by employees of the Company, in confidence, to raise concerns about possible improprieties in financial reporting, internal control or other matters, and the whistleblowing policy and system for employees which has been adopted by the Board on 27 March 2012.
Audit Committee
Chairman

Mr. Lau Fai Lawrence
Independence Non-Executive Director

Members

Mr. Ng Man Kung
Independence Non-Executive Director

Mr. Mak Kwok Kei
Independence Non-Executive Director